Dollar Slips Against Yen Due To Bad Jobs Report

Thanks to the poor jobs report of last Friday, the dollar slipped against the Japanese yen.

According to Business Recorder:

HONG KONG: Asian markets mostly rose on Monday despite a worse-than-expected jobs report from the United States that could lead the Federal Reserve to hold off any fresh cuts to its stimulus programme.

The dollar faced further selling pressure in early exchanges after tumbling on Friday in response to the official employment figures.

The Labor Department said Friday the US economy added just 74,000 jobs in December, well below the 197,000 expected by analysts.

The dollar sank on the report Friday. The euro hit $1.3666 from $1.3606 prior to the jobs figures, while greenback slipped to 104.15 yen from 104.79 yen.

And on Monday the US unit slipped further -- the euro buying $1.3670 and the dollar at 103.40 yen.

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